Alex Rodriguez, Jennifer Lopez push on with Mets bid, reportedly add horse owner Mike Repole
Alex Rodriguez and Jennifer Lopez are approaching the purchase of the New York Mets and have added a billionaire from Queens as a partner.
Mike Repole, co-founder of Glaceau, known for Vitaminwater, and BodyArmor, has joined the partnership group. This comes from reports by Darren Rovell from The Action Network and Jon Heyman from MLB Network.
The ARod / JLo group trying to buy Mets is said to have Mike Repole, a Queens Village man who went to Holy Cross in Flushing and St. Johns, on board as a partner. Repole has "real money". Glaceau (vitamin water) founded, sold to Coke for $ 4 billion. @ Darrenrovell 1st Repole mentioned
9:08 p.m. - June 22, 2020
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Repole's estimated net worth is approximately $ 1 billion - "real money," as Heyman quotes. Rodriguez and Lopez are reportedly willing to put "hundreds of millions" of their own money in the deal and have worked with high-ranking bankers at JPMorgan Chase to potentially work with a billionaire to fill out an offer.
The Wilpon family had previously signed a $ 2.6 billion contract with minority owner Steve Cohen, which ultimately failed. Given the COVID-19 pandemic and its economic impact, they are reportedly now more willing to make a sale.
According to a April Forbes report, the Mets are valued at $ 2.4 billion.
Who is possible Mets owner Mike Repole?
Mike Repole is reportedly part of a partnership agreement with Alex Rodriguez and Jennifer Lopez to buy the Mets. (AP Photo / Charlie Riedel)
The 51-year-old Repole comes from the Middle Village district in Queens and has a degree in sports management from St. Johns. For almost a decade, he has shown interest in owning at least some of the Mets. He told the New York Times in 2011 when the team was looking for "strategic partners" that "it is definitely something that interests me, definitely something that fascinates me, and I want to have a meeting with them."
Repole was a co-founder of Energy Brands in 1999, also known as Glaceau. The company created Smartwater and Vitaminwater and was sold to Coca-Cola in 2007 for $ 4.2 billion in cash. David Wright, the third retired base player, was the drink's spokesman in the early 2010s.
The entrepreneur also founded BodyArmor, a sports drink for athletes, which Kobe Bryant counted as an early investor. Coca-Cola invested in BodyArmor in 2018. He was the long-time chairman of Pirate's Booty, known for his cheese balls.
Repole is also a purebred owner through Repole Stables. His horse Uncle Mo was named American Champion Two-Year-Old in 2010 and father Nyquist, who won the Kentucky Derby in 2016.
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